The Milan exchange. (Milan, Gibson County, Tenn.) 1874-1978, 1887-08-27
ORDINANCE.

The following application by the Tennessee
Ceutral&Alabama Railway Company, through
its president, Horace Scott, was submitted to
tn Mayor Of the city Of Milan, showing the
proposed termini of the railway, with the &C.
cOmpanying declaration on the part of the
company that it will locate and construct it.
railway within one mile of the city of Milan;
TO the Board Of Mayor and Aldermen,
Of the City Of Milan, Gibson County,
Tennessee
The Tennessee Central & Alabama Railway
Company, corporation duly chartered an 4
organized under the general laws of the state
OF tennessee, through its agent and president.
and city to subscribe for Fifteen Thousand
Dollars OF the capital stock of said company,
to be paid for in Coupon Bonds of your CITY Of
sach denominations that will be most con zen :
lent. bearing six per cent interest per annum,
interest TO be paid semi annually Mt the office
of your city treasurer on the first days of Jan
uary and July of each year, and the bonds
themselves TO mature in twenty years from
their issuance with interest coupons attached.
The bonds to be delivered to the Tennessee
Central Il Alabama Railway Company, its
agents or assignees as follows, to wit One
haf, or Seven Thousand Five Hundred Dol
lars, when the road bed shall have been COM
pleted and the cars running regularly thereon
from Trenton. Tennessee, to Milan. Tennessee,
provided that the Board OF Mayor and Alder
men of the town of Milan shall at that time
have assurances satisfactory to them that the
road will be completed and put in operation
from Milan. Tennessee, to Lexington, Tennes.
see. If the first half of subscription shall not
have been paid before the road is completed
and hains regularly running thereon from
Milan. Tennessee, to Lexington, Tennessee,
1t. together with the other half. is to be abgo-
lutely payable at that time. That is to say,
the whole amOunt of Fifteen Thousand
Dollars of Bonds is to be delivered as above 50
soon as the road is completed as azores aid from
Milan to Lexington. Tennessee. or some point
equally distant from Milan. The Board of
Mayor and Aldermen may. however, deliver
half of said bonds, as before mentioned, when
the road IL completed from Trenton to Milan,
as aforesaid. If they so elect. As said bonds
are delivered this company will issue and de-
liver to the city of Milan the same amount of
its capital stock as the amount of bonds de.
livered,
HORACE SCOTT. President.
August 9Th. 1887.
That the said application above set cut was
duly submitted by the Mayor Of this munich
pality to the Board of Mayor and Aldermen at
a regular meeting thereof. when said applica-
ton was received and ordered spread upon the
minutes. which has been done.
And, Whereas majority Of Board Of Mayor
and Aldermen we're of opinion thataA election
should be held to ascertain the will Of the
qualified voters whether the subscription
aforesaid rs set out in said application shall
be made.
Therefore. ordered that the City Marshal
will, after advertising for thirty days imms-
diately preceding 18th day of September, 1887.
as required by Law. he shall on said 18th day
Of September. 1887. open and hold an election
at every voting place. or ward, to ascertain
the will of the qualified vsters Of said city Of
Milan on the subject of making said subscrip-
ton as set out in the application aforesaid.
That. at this election. those who are in favor
Of the subscription shall have written or
printed upon their tickets the words For
Subscription" and those opposed shall have
written or printed on their tickets mo
Subscription"
MAYOR AND ALDERMEN,
IN. STONE. Mayor.